Simplicity Wealth LLC Invests $155,000 in Newpark Resources, Inc. (NYSE:NR)

Simplicity Wealth LLC purchased a new position in Newpark Resources, Inc. (NYSE:NR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,466 shares of the oil and gas company’s stock, valued at approximately $155,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dorsey Wright & Associates purchased a new stake in shares of Newpark Resources in the third quarter worth approximately $32,000. CWM LLC grew its stake in Newpark Resources by 495.4% in the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 3,775 shares in the last quarter. GAMMA Investing LLC bought a new position in Newpark Resources in the fourth quarter worth approximately $49,000. Fortitude Family Office LLC grew its stake in Newpark Resources by 179.1% in the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 4,751 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in Newpark Resources in the fourth quarter worth approximately $59,000. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

Newpark Resources Stock Performance

NR stock traded up $0.07 during midday trading on Friday, reaching $7.71. The stock had a trading volume of 514,198 shares, compared to its average volume of 548,379. The firm has a fifty day simple moving average of $7.42 and a two-hundred day simple moving average of $6.92. The stock has a market cap of $656.91 million, a PE ratio of 42.83 and a beta of 2.78. Newpark Resources, Inc. has a 52-week low of $3.40 and a 52-week high of $8.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.74 and a current ratio of 2.79.

Newpark Resources (NYSE:NR) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $169.11 million during the quarter, compared to analyst estimates of $170.69 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. As a group, equities research analysts anticipate that Newpark Resources, Inc. will post 0.35 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research report on Monday, May 6th. B. Riley increased their target price on Newpark Resources from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Roth Mkm initiated coverage on Newpark Resources in a research report on Friday, March 8th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research report on Friday, March 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $11.00.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.